MeritValue

ConnectM Technology Solutions, Inc.

CNTMdata completeness 75%4 fiscal years on file

Data notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'realEstateImpairment'; no data for concept 'dividendsPaid'; no data for concept 'interestExpense'

i. The business — what you’d actually own
FigureFY 2022FY 2023FY 2024FY 2025
Revenue—$20M1$22.7M2$35.8M2
Net income−$3.76M3−$9.15M4−$22.6M5−$16.2M5
Operating cash flow−$623,3366−$4.62M7−$5.96M8−$9.79M8
Capital expenditure—$41,7719$27,04410—
Free cash flow (derived)—−$4.66M7−$5.99M8—
Total debt——$8.54M11—
Cash & equivalents$5,93812$5,94712$2.41M13$2.9M13
Diluted shares—13.3M19.1M72.3M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$0.21
your share of equity
Profit it earned you last year
−$2.25
Free cash flow it threw off
—
Debt you’d be carrying
—

10 shares is a claim on −$0.21 of net worth that earned you −$2.25 last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 4y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+442% shares · 4y

Share count is up 442% over 4 years — owners have been diluted. Worth asking what they got for it. Total debt has held roughly steady.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0
DCF · Growth Exit 10Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 2 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2023-12-31 · accession 0001558370-25-010044 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2024-12-31 · accession 0001104659-26-044467 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2022-12-31 · accession 0001410578-24-000186 (NetIncomeLoss)
  4. 10-K · period ending 2023-12-31 · accession 0001558370-25-010044 (NetIncomeLoss)
  5. 10-K · period ending 2024-12-31 · accession 0001104659-26-044467 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001410578-24-000186 (NetCashProvidedByUsedInOperatingActivities)
  7. 10-K · period ending 2023-12-31 · accession 0001558370-25-010044 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2024-12-31 · accession 0001104659-26-044467 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001558370-25-010044 (PaymentsToAcquirePropertyPlantAndEquipment)
  10. 10-K · period ending 2024-12-31 · accession 0001104659-26-044467 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2024-12-31 · accession 0001558370-25-010044 (LongTermDebt)
  12. 10-K · period ending 2022-12-31 · accession 0001410578-24-000186 (CashAndCashEquivalentsAtCarryingValue)
  13. 10-K · period ending 2024-12-31 · accession 0001104659-26-044467 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)